India to contribute USD 239.390 million to South Asian University
New Delhi: The Union Cabinet on Thursday approved payment of India's contribution of US $ 239.930 million to the South Asian University, which is around 79 percent of the total cost of the full establishment of the University until 2014. "As part of India's asymmetric commitment to SAARC, India is ready to disburse the first tranche of its financial commitment of US $9.464 million to ensure that the University is operational in July-August 2010", the Cabinet said. The University will be the first international University to be hosted by India. The objectives of the University are to disseminate and advance knowledge, wisdom and understanding by providing instructional and research facilities in such branches of learning as it may deem fit. The South Asian University shall be a non-state, non-profit self governing international educational institution with a regional focus for the purposes set forth in this Agreement and shall have full academic freedom for the attainm...